Microchip Technology’s (MCHP) “Overweight” Rating Reaffirmed at Cantor Fitzgerald

Microchip Technology (NASDAQ:MCHP)‘s stock had its “overweight” rating reissued by equities researchers at Cantor Fitzgerald in a research report issued on Monday,Benzinga reports. They currently have a $125.00 price target on the semiconductor company’s stock. Cantor Fitzgerald’s price target would suggest a potential upside of 68.26% from the company’s previous close.

Other research analysts have also issued research reports about the company. Citigroup boosted their price target on Microchip Technology from $91.00 to $113.00 and gave the stock a “buy” rating in a research report on Friday, May 8th. Weiss Ratings cut shares of Microchip Technology from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, July 24th. Susquehanna increased their target price on shares of Microchip Technology from $95.00 to $120.00 and gave the company a “positive” rating in a research report on Friday, May 8th. TD Cowen dropped their price target on shares of Microchip Technology from $105.00 to $90.00 and set a “hold” rating on the stock in a research report on Monday, July 13th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Microchip Technology from $95.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. Four equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.76.

Microchip Technology Stock Performance

MCHP opened at $74.29 on Monday. The company has a current ratio of 2.09, a quick ratio of 1.18 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $88.87 and its 200-day moving average is $81.21. The stock has a market cap of $40.34 billion, a PE ratio of 353.78, a price-to-earnings-growth ratio of 0.75 and a beta of 1.74. Microchip Technology has a twelve month low of $48.52 and a twelve month high of $105.91.

Microchip Technology (NASDAQ:MCHP) last issued its quarterly earnings data on Thursday, May 7th. The semiconductor company reported $0.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.07. Microchip Technology had a return on equity of 10.87% and a net margin of 4.88%.The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.26 billion. During the same period in the prior year, the company posted $0.11 EPS. The business’s revenue for the quarter was up 35.1% compared to the same quarter last year. Microchip Technology has set its Q1 2027 guidance at 0.670-0.710 EPS. On average, analysts predict that Microchip Technology will post 2.7 earnings per share for the current year.

Insider Activity

In other news, COO Richard J. Simoncic sold 5,000 shares of Microchip Technology stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $97.52, for a total transaction of $487,600.00. Following the transaction, the chief operating officer owned 130,508 shares in the company, valued at approximately $12,727,140.16. The trade was a 3.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO James Eric Bjornholt sold 3,667 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $90.87, for a total value of $333,220.29. Following the completion of the transaction, the chief financial officer owned 28,573 shares in the company, valued at $2,596,428.51. This represents a 11.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 26,750 shares of company stock worth $2,543,170 over the last quarter. Corporate insiders own 1.79% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EFG International AG acquired a new stake in shares of Microchip Technology during the 4th quarter valued at $29,000. Miller Capital Partners Inc. acquired a new position in shares of Microchip Technology in the fourth quarter worth $29,000. Reflection Asset Management purchased a new stake in shares of Microchip Technology during the fourth quarter worth $33,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Microchip Technology during the fourth quarter worth $33,000. Finally, Caitong International Asset Management Co. Ltd boosted its position in Microchip Technology by 4,663.6% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 524 shares of the semiconductor company’s stock valued at $33,000 after purchasing an additional 513 shares during the last quarter. 91.51% of the stock is owned by hedge funds and other institutional investors.

Microchip Technology Company Profile

Microchip Technology Inc is a semiconductor company headquartered in Chandler, Arizona, that designs, develops and supplies a broad portfolio of embedded control and analog semiconductors. Its product lineup centers on microcontrollers (including the well-known PIC family), digital signal controllers and associated development tools and software, along with a range of mixed-signal and analog devices, nonvolatile memory, power management, timing, interface, wireless and security products. The company also provides integrated hardware and software solutions intended to simplify embedded design and accelerate time to market for OEMs and contract manufacturers.

Microchip’s products are used across a wide range of end markets, including automotive, industrial automation, consumer electronics, communications, aerospace and defense, and Internet of Things (IoT) applications.